“A Disorderly Breakup”

When Mish speculates on the increasingly-likely breakup of the European Union, he often says the continued failure to address the (obvious but politically inexpedient to mention) problems plaguing the union will cause a “disorderly breakup.”  That’s a nice set of words to say, but perhaps it doesn’t convey the proper meaning of ‘disorderly’.

Disorderly breakup can mean that a bunch of bondholders lose all their money and an economy is thrown into depression for a few years or decades.  It can also mean you end up with a local natural hole in the ground referred to as Dead Man’s Hole and a battle between people who just wanted to leave, and people who thought their side was just – called the Nueces Massacre.

It is arguable that the USA is on the same path to economic ruin as the EU.  When people start talking about a “disorderly breakup” of the USA, remember:  Don’t kid yourself and say “it can’t happen here.”

It already did.

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